10 Answered Questions for the topic double entry

05/15/19

What is the difference between equity and assets?
I am (going to be) using GNU Cash, which uses the double-entry method; I use it for personal finance. Reading various tutorials for GNU cash, it lists 5 types of accounts: income, expense, assets,... more
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05/13/19

Comprehensive tutorial on double-entry personal finance?
Can anyone recommend a comprehensive tutorial on using double-entry accounting to manage personal finances? I've read a few articles that make double-entry seem worth learning, but I'm struggling... more
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05/12/19

What would be the appropriate account for written off loans to friends and family?
In the past I have lent some money to friends and family, which I have not gotten back. I don't want to ask them for the cash, but I do want to clean up my accounts. How would I record this in my... more
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05/12/19

What's an account called that always balances to 0?
I use a pretty standard double-entry system in GnuCash (Income/Expenses, Assets/Liabilities). With my wife going back to school this fall, I did something in my accounting that I haven't done... more
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04/30/19

Should ledger entries reflect actual bank charges, orders, or totals?
I recently purchased a few things on Amazon, but they split the items into multiple charges and orders: Order 1: $40, 2 items Order 2: $50, 1 item Order 3: $250, 5 items Charge 1: $40, Order 1... more
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04/26/19

How do I enter a house sale into my accounting package?
We sold our house and purchased a new one. The money from the sale went into our lawyer's trust account, and then was passed onto the vendor that sold us the new house. In my accounting package, I... more
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04/22/19

Is the blockchain similar to double-entry book-keeping?
As far as I know, blockchains keeps transaction records from the beginning of time. This lets the blockchain retain a history of traceable transactions so it can maintain validity. Double-entry... more
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04/06/19

Accounting: Should a fee on an amount payable be applied in AR or AP account?
An application I'm building has a simplistic double-entry accounting component to it to keep track of funds passed owed to various parties. I'm unclear on how certain entries should be applied.... more
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04/04/19

In double entry accounting, how do I enter a loan?
I have taken an accounting course several years ago, but I'm a little rusty. I'm using GnuCash, double entry accounting software. I have a loan from a friend, so no interest. I have paid about... more
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04/04/19

In double-entry book keeping, how should I track planned expenses?
So, I'm working on getting a bit better at managing my household finances and am currently working to learn double-entry bookkeeping. One thing I need to separate out and track a little better is... more
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